Acquisitions are a major part of its strategy these days, the company said at the time. Its revenues of $616 million are the highest-ever quarterly bookings posted by the company. Zynga, as a consequence of that, has also been on a roll in recent times, with its fourth-quarter earnings, released last month, beating analyst expectations. Gaming has been one of the bright spots in the last year - no surprise, since people are spending so much more time indoors and at home because of the pandemic. Zynga acquires Turkey’s Peak Games for $1.8B, after buying its card games studio for $100M in 2017 “We share Zynga’s vision that cross-platform play is an essential part of the future of RPGs and interactive entertainment and are eager to apply our vast experience and talents to this effort.” “Echtra Games is delighted to be joining the Zynga family,” added Max Schaefer. “This acquisition will be instrumental in growing our iconic licenses and brands from mobile to PCs and consoles, while helping to further expand Zynga’s total addressable market.” I’m excited to welcome the Echtra Games team into the Zynga family,” said Frank Gibeau, chief executive officer of Zynga, in a statement. “Max and his team at Echtra Games are responsible for some of the most legendary game properties ever created, and they are experts in the action RPG genre and cross-platform development. The plan will be to bring on Echtra’s team and expertise, potentially to continue building the franchise, but more generally to help Zynga build out more of a footprint in cross-platform games, and also gaming technology, in particular around tools built on Unreal Engine, the platform of choice at the moment for RPG and other immersive applications. Runic was shuttered by its owner, Perfect World, and so in 2016, Schaefer went on to form a new company, Echtra, with some of his Runic colleagues and others in the industry because he saw more life left in the franchise. Max Schaefer, the co-founder and CEO, had previously been at Runic Games, the developer of the original Torchlight series, as well as Diablo and others. No other details on that were released for now.įinancial terms of the deal were not disclosed. It’s also not clear who backed Echtra, if anyone.īut Echtra is in some ways a classic example of a gaming startup built out of a burning idea, rather than cold, calculated moneymaking - perhaps the best kind of company you can have. The team will be working on releasing a new title in partnership with Zynga’s NaturalMotion studio, the company said. The company has announced that it is acquiring San Francisco’s Echtra Games, the role-playing game publisher behind Torchlight III, which is available on Steam, XBox One, PS4 and Nintendo Switch. Today, however, it’s taking a turn toward more immersive, highly graphic cross-platform experiences. Games company Zynga has been on an acquisition tear the last several years to beef up its activity, in particular in mobile and casual-puzzle games, spending over $3 billion to pick up a range of startups across Europe (specifically Turkey and Finland) in the process.
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